Bravura Solutions has boosted the STP capabilities of its financial messaging platform, Babel, with a connection to The Depository Trust and Clearing Corporation’s (DTCC) proprietary SMART (securely managed and reliable technology) network.
Bravuras clients, who include institutional investors and private wealth managers, will have access to DTCCs subsidiary network, the National Securities Clearing Corporation (NSCC) and high speed message transfer services, including clearing, settlement, risk management and central counterparty services, in the US. There is also a guarantee of completion for certain transactions for broker-to-broker trades involving equities, corporate and municipal debt, American depositary receipts, exchange-traded funds and unit investment trusts.
Babel connects directly into DTCCs infrastructure via a permanent live connection into Bravuras primary and secondary data centres. The connection gives Babel clients access to the US mutual fund market, with the possibility to extend their markets to Canada, South America and Asia Pacific regions.
Tony Klim, Bravuras CEO, said: We pride ourselves on offering our clients scalable and comprehensive solutions. Babel is a market leading STP platform and we are pleased to enhance the products capabilities to better service client needs. As facilitators of the DTCC connection we are able to offer services right across all clearing and messaging mechanisms so that our clients can expand their services and reach new markets.
(JDC)